Markets closed HIGHER !!!!!

All indices closed HIGHER.Nasdaq was the best performer.

Keep an EYE on China tonight as it may REACT to an increase in transaction cost for stock TRADING..........known as Stamp Tax.........went from .10 to .30.........will it affect trading HYSTERIA in Shanghai ?

STP went DOWN on DOUBLE the volume.............which was an OVERREACTION to headline EPS numbers...........STP could have done a BETTER job of anticipating ALL expenses.

STP GOOFED UP on moving machinery from Japan to China.......that cost was SUPPOSEDLY not accounted for.

STP also did not account for 5% increase in number of shares.

How CRITICAL is ..........above TWO GOOF UPS...........BIG in terms of PERCEPTION.....but EXTREMELY MINOR in terms of numbers.....as the above TWO EXPENSES ....were ligitimate and ACCEPTABLE to wall street.

Once you factor the TWO issues ....STP actually BEAT EPS by 1 cent.............but today it did not matter.

I personally believe that this is another RETEST of STP support in $33+ to $34+ area...........have we seen the LOW this time.......tommorrow we will get the answer..........after the RETEST....STP will be in a SUSTAINED move UP from there..............I hope !!!!!

OIL took a BIG beating................

Fast Money GENIUS were SHORT FXI.........I think they HUMBLY took their LOSS...Feel Sorry for Eric Bolling for his LOUSY major calls.............Shanghai actually closed @ All time HIGHS 2 trading days in a ROW.

Tommorrow we may have REACTION to Chinese Markets............or a CELEBERATION of Fed Minutes.........Thou Shall see WHICH one............or BOTH may be NEGATIVE ??? OR if we are so LUCKY...both could be POSITIVE for the US markets.

JNPR closed @ NEW 52 week HIGH today $$$$$$ more than compensated for STP 70 cents LOSS.

Future @ 7.22 PM est Nasdaq down 2 & S&P down 1.

Please continue doing your own due diligence & stay diversified.

BLOG does not give Buy or Sell.

Saleem